there are senior executive vps, executive vps and senior vps etc etc unless you're a senior executive vp you're just a glorified assistant ;)

and the severance is enormous no doubt....

what the point of doing this if were not gonna see the savings?

wasnt icbc 1 billion in profit last year?

imo they should be hiring 100 more vp's at 100k a year, that way those 100 vp's can spend more money into the local economy, thus more people drive, thus more insurance money ect ect...

they should be hiring by the masses, give people good paying work. why the hell axe people when your winning?


why lay off when doing so well?

seems like someone wants to keep the money all to themselves up top

yeah totally.

they should just keep hiring people and paying ridiculous wages.

definitely helps the economy out.

:failed:

It's probably a political thing. Election next May.

How many are retiring out of 250?
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Air Canada doesn't just have "vice-presidents" they have "senior vice-presidents" and "executive vice-presidents" as well... aircanada.com - About Air Canada - Executive Biographies

ICBC
It's a state sponsored monopoly.
I moved from Seattle in 2010.
Same vehicle, same driving history, similar coverage, 3X premium :eek3:
Oh fuck oh dear, they stuck it in my ass and broke it off [/rant]

Management is not union. My dad's department manager was axe'd yesterday.

you'll find insurance costs even more in the other provinces though

except alberta

Not necessarily.

you would be surprised how low the coverage is for cheaper private companies but you will be in shock to find how much a new driver (or a driver with accidents) pays on insurance premiums.

considering the amount of mindless accidents that happen around GVRD it's not too bad.
My I refer to the
http://www.revscene.net/forums/65475...rs-thread.html

NVM Delete me.

"Hey, I fired 258 people and saved 29 million dollars."

All I gotta say to ICBC is, cool story bro.

looks like we'll be getting 258 articles of dirt on ICBC soon =)

why not?

if we dont see the difference either way, then hire more people, spread the jobs around.

why save 29 million, in jobs, when your 1 billion in profit?

The problem is there is no sense of urgency on low taxes, low user fees and cost cutting in Canadian politics.

That is the answer to every gov't related article ever.

When is the last time a Canadian politician talked about wanting to cut taxes? When is the last time an American politician did the same?

The American Government is bankrupt.

I would rather not look South for a fiscal role model.

Oh, I dig that. I think there is a happy medium that doesn't count on magical trickle down voodoo to occur to make the made up math work.

I think we'd do well with a sense of fiscal pride in taking what's needed, and not a penny more. What have we seen lately?

We have translink being told they have 130 million they can re-distribute, which means there is probably 65 million of that that can be distributed without massive pain. We have ICBC avoiding that by cutting a few jobs before people start looking through their books.

They just did a similar audit of BC Hydro and found similar results.

That's money we're paying!

No, I don't want or like the American system, and I equally think they've done gone and fucked themselves...but I like that the concept of "this ain't our money" is at least in the political lexicon.

I want our gov't out of insurance. Will rates go up? Will they go down. Don't know. I don't want the gov't to be involved in any of that. You and I have gone back and forth many times on that. I want the gov't to focus on government things, and industry to provide what they do best. I don't fear profit. My province does.

While ICBC cuts staff to reduce costs they could be on the hook for millions of dollars in severance payments.

Seven executives were sent packing last week, and ICBC says over a million and half dollars in potential severance could be spent on them alone.

Craig Horton leads the pack with a possible severance pay out of 17 months on a base salary of $274,000 a year.

Six of the seven outgoing executives have base salaries of $200,000 a year with severance ranging from 6 to 18 months.

This is the list of executives that left ICBC last week:

Reporting to the CEO:

. Craig Horton, SVP Claims (up to 17 months' severance on a base salary of $274,700)

. Donnie Wing, SVP, Corporate Affairs (up to 18 months' severance on a base salary of $241,600)

. Fred Hess, VP, Licensing (up to 13 months' severance on a base salary of $231,300)

. Jeff Schulz, VP, Marketing (up to 17 months' severance on a base salary of $201,200)

. Ward Chapin, CIO (up to 14 months' severance on a base salary of $240,000)

Not reporting to the CEO:

. Andre Beaulieu, General Counsel (up to six months' severance on a base salary of $200,000)

. Shelley Russell, VP, Claims Programs and Planning (up to six months' severance on a base salary of $172,000)


ICBC says how much they pay in severance depends on several factors, including how fast a laid off employee finds new work.

The insurance corporation says another 250 staff will also be trimmed, and the executive further reduced in 2013.

ICBC says while the cuts will save them about $29 million dollars a year, the severance payouts for all of 2013 could equal $26 million.

^^stop signing golden parachutes and yeah, 2013 is a wash, but 2014 is golden.

i hope they hire me for 100gs...then lay me off with 6 months worth of severance...i'm good for about a couple of years...

dang...this is getting ridiculous...

just got insurance yesterday apparently icbc raised basic premiums 11%.......11 PERCENT WTF....... and now day permits cost $2 extra. bullshit!

Yeah My scooter went from 25 a month to insure to 40.

And ontop of that I filed a claim for a hit and run and ICBC has suddenly forgot about it.